CETV Calculation

DE_612183

Is there any "rough" way to work this out?

I've got a pension that pays about £10k PA and I'm 60.

I assume the calculation is on the basis I live until 83 ( not sure why I picked that number! ).

So 23 years at 10k - is 230k - nut I think there would probably be some sort of % added on a compound basis.

ie 10k with a 3% uplift in year 2 = 10300 x 12 etc etc...

eastcorkram

Is this 10k a year already in payment?

DE_612183

yes it is.

DE_612183

eastcorkram said:

Is this 10k a year already in payment?

yes it is.

HappyHarry

I presume you are looking for a CETV for divorce purposes, as this is the only reason any of the pension could be transferred now that it is in payment. The only way to do this is request a CETV for Divorce Purposes from the administrators. 

You might get some guesses as to the CETV on this forum, but they will be just that - guesses.

Silvertabby

A divorce CETV is one of the most complicated calculations in the world of DB pensions.  Even more so when the pension is already in payment.

It absolutely can't be DIY'd so there's no point in making guesstimates.  Plus, the Court needs more than just a figure.  The requisite Form E (or equivalent) gives a lot more information than that.

When you ask your pension provider for a divorce CETV, give them as much notice as possible, as this certainly isn't a 5 minute job!

Marcon

Silvertabby said:

A divorce CETV is one of the most complicated calculations in the world of DB pensions.  Even more so when the pension is already in payment.

It absolutely can't be DIY'd so there's no point in making guesstimates.  Plus, the Court needs more than just a figure.  The requisite Form E (or equivalent) gives a lot more information than that.

When you ask your pension provider for a divorce CETV, give them as much notice as possible, as this certainly isn't a 5 minute job!

...and be aware that there may be costs involved in providing you with the CETV - and there will definitely be costs involved if a pension sharing order goes ahead and has to be implemented.

DE_612183

Thanks all.

DE_612183

I'm not yet at the point of divorce - although that appears to be an option at the moment.

I just wanted to understand options if / when it comes to that.

I'd like to keep the pension and give my wife the house ( or at least the equity in it ) everything else sort of can get split 50/50.

DE_612183

I'm not looking for an exact figure - but ball park(ish)

Phossy

If you want another method of estimating, go onto an annuity calculator and plug in some figures to get a match for your current pension (10k pa for life, no lump sum etc).